Course Outlines 2nd Year MBA Courses


Strategic Management

The course is designed:
To equip students with concepts that will enable them to develop competitive strategies for all types and sizes of organizations; Familiarize them with methods and techniques with regard to strategic position, strategic analysis, strategic choices, decisionmaking and the strategy implementation process.

The course addresses the following topics:

  • Introducing Strategy;
  • Understanding Strategy Development and Environment;
  • Strategic Capability Mini Case Presentation
  • Expectations and Purpose Mini Case Presentation
  • Corporate level and business level strategies
  • Directions and Methods of Development Mini Case Presentation
  • Organizing and Enabling for Success Company Case Analysis Due
  • Managing Strategic Change
  • Case Presentations

Course material: Gerry Johnson, Kevan Scholes, Exploring Corporate Strategy, Prentice-Hall, 6th edition, 2002.
Course duration: 40 hrs.


Operations Management

The course aims to:

  • define the concept of operational management;
  • examine the similarities and differences between the management of material products and services;
  • examine the relations between production and other company activities;
  • provide present-day theoretical and practical knowledge on the concepts, processes and instruments used in operational management.

The course includes the following topics:

  • Fundamentals of Production Management, Production Concepts
  • Elements of Production Management: Factors, Processes, Objectives, Methods
  • Computer-Based Production Management (CBPM)
  • TQM, Innovation
  • Lean Management, Lean Production
  • International Production Strategies
  • Business Process Reengineering (BPR)
  • Location Planning, Layout Planning
  • Maintenance, Reliability
  • Procurement, Supply, Purchase
  • Basic Terms of Costing Theory
  • Production Functions / Cost Functions
  • Elements Influencing Costs
  • Equipment/Investment
  • Material and Inventory Management: General Aspects
  • Material and Inventory Management: Material Disposition
  • Human Resource, Knowledge Management
  • Strategical and Tactical Production Management
  • Operational Production Management: Programme Planning
  • Operational Production Management: Process Planning
  • Exercises

Course material: Roberta S. Russell, Bernard W. Taylor III, Operations Management, Along the Supply Chain, International Student Version, John Wiley & Sons, 6th edition, 2009.
Course duration: 40 hrs.


International Business Strategy

Course objectives:
The course aims to enhance the participants’ understanding of the development of strategy and the management of an enterprise engaged in international business. The primary objective of the course is to increase the managerial competence of the participants in regard to knowing how to operate in today’s complex international business environment. The first part of the course discusses the infl uence of government on international business, economic integration and cooperative agreements, foreign direct investment, and foreign exchange movements. The second part deals with the impact of the multinational enterprise and also covers international business negotiations. The third part analyses the development of international business strategies. This includes appreciating the various schools of thought and approaches to strategy formulation and implementation. In addition, it involves examining the competitive position of a firm by analysing country-based sources of advantage, industry structure and the distinctive competencies of the firm. Finally, the methods of entry into international and global markets are discussed. The fourth part deals with international business management. It also covers the distinctive functional strategies which may be used to attain the desired international business performance goals. Lastly, the fifth part examines the impact of organizational structure on the translation of strategy into action. The characteristics of corporate culture are also discussed, as well as issues related to performance monitoring and control mechanisms relevant to strategy implementation.

Course content:

  • International Trade and Factor Mobility;
  • Influence of Government on International Business;
  • Economic Integration and Cooperative Agreements;
  • Foreign Direct Investment;
  • Foreign Exchange Movements;
  • Multinational Enterprise Strategies;
  • Country Evaluation and Selection;
  • Export and Import Strategies;
  • Direct Investment and Collaborative Strategies;
  • Methods of Entry into Foreign Markets;
  • Internationalizing SMEs and Born Globals;
  • Sustainable Competitive Advantage and Innovativeness;
  • Organization of International Business

Course material: John D. Daniels, Lee H. Radebaugh, Daniel Sullivan, International Business: Environments and Operations, Prentice Hall, 13th edition, 2010.
Course duration: 20 hrs.


International Marketing

Course objectives:
The primary objective of this course is to increase the managerial competence of the participants in regard to knowing how to operate and compete in today’s complex international marketing environment. The first part of the course discusses whether or not to internationalize and analyses the theories pertaining to internationalization and globalization. The second part consists of an overview of the national differences in culture and political economy, and the cultural, economic, financial, human, legal and political aspects of the changing international marketing environment. It also covers regional trade areas and the segmentation of multinational markets. The third part focuses on the international strategies of organizations and their methods of entry into foreign markets. The fourth part deals with the international marketing programme: international product policy and technology transfer, integration of global and local international communications and promotion, distribution, pricing structure and countertrade. The fifth and final part discusses other key aspects of international marketing: organization and control, and the future. Throughout the course, wherever pertinent, the impact of the internet is examined

Course content:

  • International Political and Legal Environments;
  • The Cultural Environment of Global Markets;
  • Cultural Aspects of Negotiations with International Customers (Partners);
  • Development of International Competitiveness;
  • International Product Strategies;
  • International Brand Management;
  • International Channels of Distribution and Logistics;
  • International Pricing Strategies; Dumping, Gray Markets;
  • Countertrade;
  • Case;
  • Case;
  • International Marketing Organization and Control;
  • The Future;
  • Group Presentation

Course material: Svend Hollensen, Global Marketing: A Decision-Oriented Approach, Prentice Hall, 5th ed. 2010.
Course duration: 20 hrs.


International Financial Management

The course objective:
This course introduces the student to the economic mechanism underlying the ways in which international financial markets work and subsequently examines management issues facing industrial and commercial firms operating in these markets.

Content:
International financial markets, Definitions of international financial markets, economic agents active in the markets, products exchanged in the markets. Foreign exchange markets, The international economic environment of today, How the markets work: covered and uncovered interest rate parity, Spot and forward rates, Derivate products: the opinion market, The EMS and the EMU: problems and prospects, International capital markets, Bonds, shares, hybrids, I.R.S. Country risks, Financing international trade.

Course material: Eugene F. Brigham, Joel F. Houston, Fundamentals of Financial Management, South Western Cengage Learning, 12th edition, 2009. Adrian Buckley, Multinational Finance, Prentice Hall, 3rd edition, 2004. Douglas R. Emery, John D. Finnerty, John D. Stowe, Corporate Financial Management, Prentice Hall, 2nd edition, 2004.
Course duration: 20 hrs.


Financial Statement Analysis

Course objectives:
The course aims to enable the participants to comprehend and critically evaluate the financial information provided in corporate annual reports. Corporations are complex and so are the rules and requirements that must be met when preparing annual reports. In order to produce annual reports of a manageable length given these complexities, it is assumed that readers already understand the nature and implications of accounting practices and procedures. Obtaining that knowledge is what this course is about.

The course addresses the following topics:

  • The strategic environment in which financial statement analysis takes place;
  • The role of auditing in financial statement analysis;
  • The relative value of financial statement data in the context of the broad range of data available in the capital markets;
  • The concept of accounting and earnings quality provided in reported financial statement data;
  • Intercorporate investments and consolidated financial statements;
  • Regulatory framework (harmonization, Europe, IASB);
  • Popular concepts (EBIT and NOPAT, Free cash flow, EBITA and cash flow statement, working capital);
  • Techniques for financial statement analysis;
  • Earnings management.

Course material: Subramanyam K.R., Wild J.: Financial Statement Analysis, 10th edition, McGraw Hill/Irwin, 2008.
Course duration: 20 hrs.


Global Financial Crisis

Course objective:
The course aims to enhance students’ understanding of the present global financial problems by examining the impact and consequences of the crisis as well as possible solutions (practical implementation).

Course content:

  • Where are we now and where are we going (main risks which the world is facing nowand in the future, elements of the financial system of the state, reaction of fiscal and monetary institutions, the banking system and the financial markets);
  • Country risk. Methods of evaluation used by rating agencies and other institutions, political risk, economic risk, financial risk;
  • Business Cycle, traditional tools and methods, their effectiveness in crisis situations;
  • The Financial Crisis and its Causes. Examples (The Great Crash 1929, Asian Crisis 1997, Russian Crisis 1998); types of crisis, indicators and lessons to be learned;
  • Crisis “07”: main reasons, short and long term results, financial crime and scandals, short term responses (stimulus packages, liquidity injection, bailouts, bad banks);
  • Crisis ”07”: regulatory proposals, shadow banking system, rating agencies, breakup institutions, minimum down payments, early-warning system, executive pay.

Course material: George Soros, The New Paradigm for Financial Markets, Public Affairs, 2008; Panic, the Story of Modern Financial Insanity, edited by Michael Levis, Penguin Books, 2009; John P. Calverley, When Bubbles Burst, Surviving the Financial Fallout, Nicholas Brealey, 2009.
Course duration: 20 hrs.


Investment Analysis

Course objectives
Companies have to be careful in the allocation of their resources. Students must learn to understand these constraints and adopt techniques to manage them, thus achieving the objectives of the organisation in the most efficient manner. The major objective of this course is to provide the theory and tools essential to the analysis and the solution of those problems that have signifi cant financial consequences for a typical company. Irrespective of whether or not students will build a career in finance, they will always be confronted with crucial financial decisions. For many of these decisions, what they have learned in this course may give them a useful edge over uninformed competitors.

Course content:
The central focus of the course is shareholder wealth maximization for private sector companies. The impact of financial decisions on the value of the firm. The course provides tools for financial analysis and forecasting and covers some theoretical and practical aspects of capital investment decisions. It also discusses the determinants of optimal capital structure and cost of capital and examines ways of determining the value of the company.

Determination of Valuation - Basic Concepts (Part I):

  • Maximization of Shareholder Wealth
  • Time Value of Money
  • Accounting Income versus Cashflow
  • Case Study NewCo

Investment Analysis and Capital Budgeting (Part II):

  • Classifying investment projects
  • Basic framework for capital budgeting
  • Estimating cash-flows
  • Capital budgeting criteria (NPV, IRR, PI, Payback)
  • Real options in capital budgeting
  • Mutually exclusive projects with unequal lives
  • Dealing with risk

Cost of Capital and Capital Structure (Part III)

  • Weighted Cost of Capital (LT Debt, preferred and common stock)
  • Capital structure (operating and financial leverage, EBIT-EPS analysis)

Course material: Moyer R. Charles et al., Contemporary Financial Management, 10th edition, South-Western College Publishing, Cincinnati, Ohio, 2006
Course duration: 20 hrs.


Economics of the European Union

Course Objective:
The main goal of the course is to provide a comprehensive account of the economics of the EU on the basis of theory, analysis and a description of EU policies.

The course addresses the following topics:

  • Origins of the EU and present situation;
  • Main institutions of the EU;
  • Basic theory of the customs union and the trade policy of the EU;
  • Institutional framework of the European trade policy;
  • Selected aspects of agricultural economics: basic features of the CAP;
  • Reforms of the CAP;
  • Implications of the free movement of factors of production: The Single European Market;
  • The budget of the European Union: structure of revenues and expenditures;
  • The economics of monetary integration: European Monetary Union and the prospects of enlargement.

Course material: Ali M. El-Agraa, The European Union. Economics & Policies, 7th edition, Prentice Hall, 2004.
Course duration: 20 hrs.


European Law & Regulations

Course Objective:
The aim of this course is to provide participants with basic knowledge on how the European Union is structured, what it does and how it works. The lectures focus on the EU’s institutional law and offer an introduction to the internal market. Upon completion of the course participants will not only understand the basic principles which inform and underpin EU legislation but also have a general knowledge of both the primary and secondary acquis (legal output) and the jurisprudence of the European Court of Justice.

The course addresses the following topics

  • The institutional framework of the European Union;
  • The sources of EU law;
  • The enforcement of EU law at the domestic level (Part I);
  • The enforcement of EU law at the domestic level (Part II);
  • The European Court of Justice and the

Court of First Instance;

  • Introduction to the internal market of the EU;
  • Free Movement of Goods (Part I);
  • Free Movement of Goods (Part II);
  • Free movement of persons and services.

Course material: Teaching materials include the relevant legal documents, a selection of ECJ jurisprudence as well as the power point presentations used during the lectures.
Course duration: 20 hrs.


Entrepreneurship

The course objectives are to have students

  • Recognize and appreciate the role of entrepreneurship within society;
  • Appreciate the ethical issues that are intimately intertwined with entrepreneurial activities;
  • Appraise the nature of creative new business concepts that can be turned into sustainable business ventures;
  • Understand the process of evaluating, creating, shaping and seizing business opportunities;
  • Understand the key elements necessary to develop an idea into a successful enterprise.

Course content:

  • Introduction and course overview: Entrepreneurs – challenging the unknown; The Myths, Reality and Dark Side of Entrepreneurship; The Age of the Gazelles; The Nature of Corporate Entrepreneurship; The Opportunity; The Business Plan; Image Café discussion questions;
  • Leadership, Ethics, Image Café discussion question;
  • Financing Your Venture;
  • E-Commerce and the Entrepreneur;
  • Entrepreneur Interview Presentation and Discussion;
  • Course wrap-up.

Course material: Timmons, Jeffry A., Stephen Spinelli. New Venture Creation: Entrepreneurship for the 21st Century, 8th edition, Irwin/McGraw-Hill, 2009.
Course duration: 20 hrs.


Business Games

Course objective:
The course aims to:
- increase participants’ managerial knowledge and skills with regard to the decision-making process;
- upgrade their practical knowledge of a company’s functions and activities;
- provide training and exercises focusing on particular decisions and their implementation.

The course addresses the following topics:

  • The Company’s Overall Image Problem defi nition and solution The present situation: the products, the organization, its structure and strategy;
  • Capacity Expansion Project: Problem defi nition and solution; the present situation (the executives’ orientation to change, investment in productive capacity, multiple shift system, subcontracting);
  • Finance: Problem defi nition and solution
  • Information on the present situation: the possibility of using own company’s capital, the possibility of acquiring external funds, data on financial variables (taxes, dividends, liquidity and the like);
  • Domestic Market and Marketing Functions. Problem definition and solution, information on customers, inventory of saleable products, survey of the domestic market sales office, performance, production department, sales department administration, cost account, working capital account, specific information on the domestic market sales office;
  • New Product “Z” Problem definition and solution. Situation analysis based on the figures, information on the proposed sale price, total market potential, growth rate, logistics costs, production volume, machine capacity required and use of raw materials;
  • Production Department: Problem defi nition and solution. Present situation caused by the crisis: the direct customer, the supplier of raw materials, the purchase of finished products, production planning, the departmental Profit and Loss Statement.

Course material: New Orsiam International Games, Ghent, 2009
Course duration: 40-50 hrs.

 

The group of students

engaged in business games
 


Centre for Management Training - ul. Szturmowa 3, 02-678 Warszawa, tel/fax. (22) 843-58-05, tel. (22) 847-17-42, mail: cmt@mail.wz.uw.edu.pl